Gemini is a U.S.-focused cryptocurrency exchange and financial platform. Its core product is a regulated marketplace where retail and institutional customers buy, sell, and store crypto assets, primarily Bitcoin, Ether, and a range of altcoins. Retail users access the platform through a mobile and web app, while institutional clients — hedge funds, asset managers, and prop trading firms — use an advanced trading interface and an OTC desk. Transaction fees on spot trading volume represent roughly 56% of revenue, with retail instant orders carrying higher fee rates than institutional orders. The remaining ~44% comes from services and interest revenue, including the Gemini Credit Card, staking, custody fees, and interest income. The Gemini Credit Card is a Mastercard-branded card that deposits crypto rewards directly into users' Gemini accounts, and has become the primary customer acquisition channel — over 55% of new U.S. transacting users in Q3 2025 came through card onboarding. Staking revenue is driven by the value of assets staked on proof-of-stake networks like Ether and Solana. Because trading volumes are cyclical and tied to crypto prices, Gemini's stated priority is growing recurring services revenue to reduce that dependence. Beyond the core exchange, Gemini has launched prediction markets (CFTC-regulated) and spot margin trading, and has stated plans to add U.S. equities. Gemini's longer-term ambition is to evolve into a "super app" covering trading, rewards, and broader financial products, all on one regulated platform. In early 2026, Gemini exited the U.K., E.U., and Australia to focus entirely on the U.S. market.